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December 19, 2016updated 04 Apr 2017 1:20pm

WEALTH MANAGERS USE FACEBOOK TO PROMOTE THEIR BRANDS WHILE PRIVATE BANKERS PREFER LINKEDIN

While wealth managers have started to recognise the value of social platforms, particularly Facebook, when promoting their company’s brands, the private bankers themselves prefer LinkedIn over Facebook, writes Bartosz Golba, Head of Wealth Management (interim) at Verdict Financial

By Bartosz Golba

While wealth managers have started to recognise the value of social platforms, particularly Facebook, when promoting their company’s brands, the private bankers themselves prefer LinkedIn over Facebook, writes Bartosz Golba, Head of Wealth Management (interim) at Verdict Financial

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
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While wealth managers have started to recognise the value of social platforms, particularly Facebook, when promoting their company’s brands, the private bankers themselves prefer LinkedIn over Facebook. Verdict Financial’s Global Wealth Managers Survey found differences between the way social media is used by at the relationship manager (RM) and company level.

The service of first choice for most wealth managers is Facebook, which is much preferred over LinkedIn. On a global level, 72.6% of wealth management companies working with high net worth (HNW) clients use social media to promote their brands.

In a recent article in Private Banker International, Stephen Light, executive director, digital private banking at Coutts, told PBI that Facebook has been a surprise, stating that it gives the private bank three times more traffic and engagement back to its other web services than Twitter does.

Interestingly, contrary to the trend observed at a company-level, private bankers prefer LinkedIn over Facebook.

Local platforms provide significant brand-promotion opportunities as well, and this is the case not only in markets such as China (where access to global platforms might be restricted), but also, for instance, in Switzerland. Country-specific platforms are also widely used by relationship managers to build their own personal brand.

Regardless of the preferred platform, the usage of social media is forecast to increase in the foreseeable future. As 78% of consumers with investments browse through social media platforms at least once a day, wealth managers have no choice but to engage with this audience.

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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